Centric Development and Sage Equities traded five senior housing communities in Atlanta for $147 million. The buyer was not disclosed. The buyer is retaining the incumbent operator, Claiborne Senior Living, to manage the communities.
The portfolio consists of 611 units and 701 beds of assisted living and memory care developed by Centric Development between 2018 and 2022. Floorplans include companions, studios, one-bedrooms and two-bedrooms. Community amenities include restaurant-style dining, private dining, movie theaters, bistros & bars, art studios, game rooms and landscaped courtyards with fountains.
JLL’s National Seniors Housing Capital Markets team was led by Jay Wagner, Rick Swartz, Aaron Rosenzweig, Tim Hosmer and Erik Von Hamm, with assistance from Anthony Fertitta, Joel Mendes and Peter Yorck.
“This portfolio offered a unique opportunity to acquire five high-quality and recently constructed properties below replacement cost in affluent Atlanta submarkets,” said Wagner.
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